Banker Used Tips to Trade, Officials Say

Former Evercore Deal Maker Is Arrested

Senior deal-maker Frank Perkins Hixon Jr. found an unusual use for profits from alleged insider trading: paying child support for his 5-year-old daughter, according to federal prosecutors and regulators.

In criminal and civil complaints, authorities alleged the former senior managing director at Evercore Group LLC, who often goes by "Perk," made $1.2 million using confidential information he picked up at the investment bank...